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Sep 30, 2013

SEC would operate as normal in early weeks of shutdown

WASHINGTON, Sept 30 (Reuters) – The U.S. Securities and
Exchange Commission would continue reviewing IPO applications
and monitoring markets as normal in the early weeks of a
government shutdown, but market players are increasingly anxious
about the prospect of a prolonged funding gap.

The U.S. Securities and Exchange Commission expects to stay
open on Oct. 1 and to continue operating fully for a few weeks,
a spokesman said, even if the rest of the federal government
starts shutting down when funding runs out at midnight.

Sep 30, 2013

U.S. financial regulators would stop some operations in long shutdown

WASHINGTON (Reuters) – If a budget stalemate in the U.S. Congress leads to an extended federal government shutdown, investors can expect potential interruptions to financial product approvals and new rules, though market oversight would not grind to a halt.

Most U.S. agencies would start shuttering all but the most critical operations, keeping only skeleton staffs at work, if lawmakers cannot reach a deal on a spending bill by midnight.

Sep 19, 2013

U.S. risk council says Prudential needs close oversight

WASHINGTON (Reuters) – Insurer Prudential Financial Inc said on Thursday that U.S. regulators had voted to designate the company as systemically risky, bringing it under stricter regulatory oversight.

A group of regulators known as the Financial Stability Oversight Council had been weighing whether Prudential was so big that its failure could threaten U.S. financial markets.

Sep 9, 2013

Regulators nearing deadline on systemic tag for Prudential

WASHINGTON (Reuters) – U.S. regulators are nearing a final decision on whether to bring mega insurer Prudential Financial under the tougher oversight usually reserved for Wall Street’s largest banks.

If regulators decide a non-bank firm is so big and risky that its failure could threaten the financial system, they can vote to bring it under the scrutiny of the Federal Reserve and subject it to a host of new restrictions.

Sep 9, 2013

U.S. regulators nearing deadline on systemic tag for Prudential

WASHINGTON, Sept 9 (Reuters) – U.S. regulators are nearing a
final decision on whether to bring mega insurer Prudential
Financial under the tougher oversight usually reserved
for Wall Street’s largest banks.

If regulators decide a non-bank firm is so big and risky
that its failure could threaten the financial system, they can
vote to bring it under the scrutiny of the Federal Reserve and
subject it to a host of new restrictions.

Aug 28, 2013

U.S. proposes relaxed ‘skin in the game’ mortgage rules

WASHINGTON (Reuters) – Six U.S. regulatory agencies released a reworked proposal on Wednesday that requires lenders maintain a stake in the loans they bundle and sell as securities, part of efforts to limit the type of underwriting practices which fueled the housing bubble.

But it also expanded the range of mortgages that would be exempt from the requirement.

Aug 26, 2013

Regulators, Bitcoin group discuss digital currency

WASHINGTON (Reuters) – U.S. regulators and law enforcement agencies met on Monday with an advocacy group for Bitcoin, a digital currency that has been under fire for its purported role in facilitating anonymous money transfers.

Jennifer Shasky-Calvery, director of the Financial Crimes Enforcement Network (FinCEN), said her unit hosted a presentation by members of the Bitcoin Foundation, an advocacy group of Bitcoin-related businesses.

Aug 26, 2013

U.S. regulators, Bitcoin group discuss digital currency

WASHINGTON, Aug 26 (Reuters) – U.S. regulators and law
enforcement agencies met on Monday with an advocacy group for
Bitcoin, a digital currency that has been under fire for its
purported role in facilitating anonymous money transfers.

Jennifer Shasky-Calvery, director of the Financial Crimes
Enforcement Network (FinCEN), said her unit hosted a
presentation by members of the Bitcoin Foundation, an advocacy
group of Bitcoin-related businesses.

Aug 26, 2013

Muriel Siebert, first woman to buy seat on NYSE, dies at 80

WASHINGTON (Reuters) – Muriel Siebert, the first woman to own a seat on the New York Stock Exchange, has died of complications from cancer, Leonard Leiman, a director at her firm Siebert Financial Corp., said on Sunday. She was 80.

The founder and president of Muriel Siebert & Co. Inc, Siebert purchased her seat on the exchange in 1967, nearly a decade before the next woman would join her there.

Aug 23, 2013

Fed says it does not object to new BB&T capital plan

WASHINGTON/NEW YORK (Reuters) – The Federal Reserve approved a revised capital plan for BB&T Corp for 2013, and the bank said on Friday that it is maintaining its current quarterly dividend.

With the approval, the only major U.S. bank whose plan has not yet been approved is auto lender Ally Financial, which earlier this week announced plans to sell shares to bolster its capital base.